Ahead of Mother's Day in the US, Allison Stern announced that she has raised $10 million for her new fund, Mother Ventures. This fund focuses exclusively on projects where mothers are the primary consumers, viewing them as a key driver of the economy. This is reported by Techcrunch.com reports .
According to Stern, 85% of household purchases in the US are made by mothers, with a total purchasing power of $2.4 trillion. As a mother of two, Allison aims to effectively tap into this massive market by supporting startups that meet the needs of modern mothers.
Since its inception, Mother Ventures has invested $4 million in 13 startups. These include projects like Coral Care, which books specialized medical services for children, and Tin Can, a manufacturer of retro-style Wi-Fi phones for kids.
The fund has received investments from former Blackstone president Tony James, Lovevery founder Jessica Rolph, and female leaders from major companies like Netflix and Rent the Runway. Stern believes that Millennial and Gen Z mothers are demanding digital services and convenient solutions like DoorDash, Zum, and Greenlight.
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